Universal Display (NASDAQ:OLED) Sets New 12-Month Low – Here’s Why

Universal Display Corporation (NASDAQ:OLED) hit a new 52-week low on Thursday . The company traded as low as $86.62 and last traded at $87.18, with a volume of 17154 shares. The stock had previously closed at $89.61.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OLED. Citigroup lowered their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Needham & Company LLC lowered their target price on Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $180.00 price objective on shares of Universal Display in a research report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $151.67.

Universal Display Price Performance

The company has a market capitalization of $4.23 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 7.26 and a beta of 1.65. The business has a fifty day moving average price of $106.30 and a 200 day moving average price of $121.43.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.11. The business had revenue of $172.93 million during the quarter, compared to the consensus estimate of $173.35 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.Universal Display’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. As a group, equities analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 17th. This is a boost from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.2%. Universal Display’s dividend payout ratio is currently 39.45%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its stake in shares of Universal Display by 309.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Universal Display in the 3rd quarter valued at $33,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Universal Display during the 3rd quarter valued at $37,000. Rise Advisors LLC lifted its holdings in Universal Display by 53.3% during the 3rd quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 104 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Universal Display by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.